Keiser Report: Stalinism of NYSE

[limpyhobbler]

3. Because it used to be the main currency,

so if the paper currencies ever become worthless, people might revert to using gold and silver.

How gold got to be used as currency in the first place? For one thing it doesn't rust. At least not easily.

Neither does silver. I've heard this is one reason these metals came into use as money. People didn't want to collect money that was going to rust and become worthless.

Also rulers used armies and cops to enforce control of gold mines and then issued gold as money, or issued paper backed by gold, and then they accepted this money as payment for taxes and fines, so that made it seem valuable.